In your interest.
Online Personal Finance Magazine
No beating about the bush.
Deliveries will begin from July and the first 100,000 deliveries are expected to be completed by the last quarter of 2010, the company said. Tata Motors also reconfirmed that the first 100,000 owners are price-protected, and will get their Tata Nano at the ex-showroom prices.
Tata Motors, the country’s largest vehicles maker also said it is making all efforts to deliver the Nano earlier than schedule by ramping up production at the already operational Pantnagar plant and the fast upcoming Sanand plant.
The booking process had also given the option to applicants to indicate whether they would like to retain their booking amounts with the company, even if they do not get selected among the first 100,000 allottees, and await delivery of their cars after them.
The company said 137,867 or about 67% applicants had chosen this option, from which a further 55,021 retainees have been made allotments. The booking amounts of the unsuccessful applicants, who had not exercised this option, would be returned, it added.
Tata Motors said although it will inform all the applicants about their current status, the applicant can also check it on the company website www.tatanano.com , using their booking application number or calling Tata Motors call center on 020-66495678.
The deliveries to the 55,021 retainees will begin after the first 100,000 deliveries. The retainees will also benefit from an interest of 8.5% on their booking amount if the car is delivered within two years from the date of allotment (23rd June 2009) and 8.75% if the car is delivered after two years from the date of allotment, it added.
Tata Motors, along with the confirmatory letter, is also making an offer to retainees on its Indica range over and above any current scheme on these cars in the market, in addition to discount vouchers of Titan and Westside which can be used at any outlet of these companies across India. Unsuccessful applicants will also be given the same offer, the company said.
One of the sectors that has performed exceptionally well through the bear market is the sugar sector (see chart), and is going to do even better. This is simply because sugar supply is going to fall far more short of demand than was forecast earlier. Kingsman, a consultancy firm for sugar and ethanol, has raised its estimate of global sugar deficit from 2.5 million tonnes to 4.5 million tonnes...
SEBI said that the open offer will only trigger once the GDRs, issued to MTN and its shareholders by Bharti Airtel, are converted into local...